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Euroyenlong

EUR/JPY: Bullish trendline breakOn the daily chart, there is a clear break of a downtrend line with a confirmed weekly close above it - unlike during the liquidity grab where the price broke higher but then closed the week under the trendline. This broken trendline and Friday’s low at 161 is now support. Should the price be able to break above the August peak, a next possible upside target is 167.5 (the 61.8% Fibonacci retracement of July-August drop. But that’s just what we think, do you agree or disagree? Send us a message and let us know Happy Trading! Jasper, WeTrade Market Analyst and Founder of Trading Writers.
Long
by jasperlawler
1
EURJPY buy ideaNot much analysis to go over with this potential trade, we are currently trading within a range where the resistance is signifacntly strong meaning any bullish momentum beyond this could be a continuous move to the upside. The key here is to watch out for potential fakeouts that we have seen over the past few trading days, the market is having a blast with fakeouts in ranges so it is important we only take trades with high probability set-ups. As always, if you like this potential idea and have any feedback, please leave and like and comment. If you have any requests for pairs or suggestions feel free to let me know, I'll be happy to get back to you :)
Long
by FriesianFX
EUR JPY - Bullish updatesHello traders and analysts, Key: Blue = Monthly Purple = weekly Orange = Daily Grey = 4hour Pink = 1 hour Here is our original idea for Euro Japanese Yen back in December 2020. Here is the weekly time frame of where the price imbalances are taking us: At the current daily chart; We are currently experiencing a great bullish momentum for the Euro, where the Euro is seeing strength against the US Dollar and Yen a like due to the imbalances identified on the weekly time frame - which is shown by our weekly . The weekly ray is included to provide us a strong trendline, as time has moved on - the lows created are higher lows, whereby daily closes are showing us a bullish move. Be wary of this pair as the Yen is a safe haven so expect pullbacks and sell offs to occur on a 4hour and daily timeframe. However, with this bullish movement the creation of a divergence is created between the trendline as oppose to the weekly blue trend. A bullish scenario: Pay attention to the consolidation block on the left [in the blue ellipse at 129.00, there is an inefficiency here where price can easily be broken to create a path for the upper imbalance and use this consolidation as a demand zone. A Bearish scenario: The Fibonacci can complete the pattern to 129 completing the -0.27 target on a daily level and from here using the consolidation as a selling fractal, the fresh zone at the orange zone can be the profit point for a sell off scenario. Keep in mind the imbalance pr Why follow us? Updates on our pairs as and when we can. Swing trade out looks 10 years combined experience in capital markets simple breakdowns for beginners to advanced . KISS - keep it simple stupid. we trade purely from naked charts, less indicators - remove the noise and clears your mind. If you like our work, please leave a like or comment. To all our followers, we appreciate the follow and likes. Regardless we will continue producing analysis. Thanks, Team LVPA MMXXI
Long
by LupaCapital
5